Baillie Gifford European Class B Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | 7.7% | 59.9% | -14.1% | -8.1% | 6.3% |
| Sector | -9.4% | 39.6% | 4.2% | 6.5% | 12.3% |
| Rank | 1/127 | 7/129 | 134/135 | 139/142 | 125/143 |
| Quartile | 1 | 1 | 4 | 4 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | -5.7% | 7.7% | 8.3% | |
| Sector | 7.6% | 9.5% | 7.9% | |
| Rank | 134/135 | 100/127 | 42/97 | |
| Quartile | 4 | 4 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| RYANAIR HLDGS | 5.44 |
| TOPICUS.COM INC | 5.16 |
| ASML HOLDING N.V. | 4.89 |
| SCHIBSTED ASA | 4.87 |
| PROSUS N.V. | 4.17 |
| ATLAS COPCO AB | 3.87 |
| KINGSPAN GROUP | 3.56 |
| IMCD NV | 3.41 |
| HYPOPORT SE | 3.26 |
| AVANZA BANK HOLDING AB | 3.21 |
| Total | 41.85 |
Fund Aims
The fund aims to outperform (after deduction of costs) the MSCI Europe ex UK Index, as stated in Sterling, by at least 1.5% per annum over rolling five-year periods. Investment Policy The Sub-fund will invest at least 90% in shares of European companies being those which are listed, incorporated, domiciled or conducting a significant portion of their business in Europe (including Turkey and excluding the UK). The Sub-fund will be actively managed, concentrated and will invest in companies of any size, any European country and in any sector. To the extent that the Sub-fund is not fully invested in shares of European companies, the Sub-fund may also invest in other transferable securities of European companies, money market instruments, deposits and cash. The Sub-fund may not invest in or otherwise use derivatives.
Fund Manager
tbc
Stephen is Head of the European Equity Team and a member of the Pan European Portfolio Construction Group. He joined Baillie Gifford in 2005 and spent time in the US, UK Smaller Companies and Japanese Equities Teams. Stephen graduated BSc (Hons) in Financial Mathematics in 2005.
Fund Overview
| Mid (26/04/2024) | 2795.00p |
| Historic yield | 0.30% |
| Fund size (31/03/2024) | £409.23m |
| Number of holdings | 42 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.59% |
| Launch date | 06/01/2000 |
Asset Allocation
| International Equities | 97.64% | |
| UK Equities | 1.51% | |
| Cash and Equivalents | 0.86% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 97.64% | |
| UK Equities | 1.51% | |
| Cash and Equivalents | 0.86% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Discretionary | 24.76% | - | - | - | |
| Consumer Products & Services | - | 15.58% | - | - | |
| Personal Goods | - | - | 11.37% | - | |
| Clothing & Accessories | - | - | - | 6.93% | |
| Luxury Items | - | - | - | 3.02% | |
| Footwear | - | - | - | 1.42% | |
| Consumer Services | - | - | 4.21% | - | |
| Consumer Services: Misc. | - | - | - | 4.21% | |
| Travel & Leisure | - | 6.94% | - | - | |
| Travel & Leisure | - | - | 6.94% | - | |
| Airlines | - | - | - | 6.94% | |
| Media | - | 2.24% | - | - | |
| Media | - | - | 2.24% | - | |
| Radio & TV Broadcasters | - | - | - | 2.24% | |
| Technology | 24.29% | - | - | - | |
| Technology | - | 24.29% | - | - | |
| Software & Computer Services | - | - | 18.50% | - | |
| Consumer Digital Services | - | - | - | 11.39% | |
| Software | - | - | - | 7.11% | |
| Technology Hardware & Equipment | - | - | 5.79% | - | |
| Production Technology Equipment | - | - | - | 4.89% | |
| Semiconductors | - | - | - | 0.90% | |
| Industrials | 23.41% | - | - | - | |
| Industrial Goods & Services | - | 18.39% | - | - | |
| Industrial Engineering | - | - | 7.92% | - | |
| Machinery: Construction & Handling | - | - | - | 5.34% | |
| Machinery: Specialty | - | - | - | 1.72% | |
| Machinery: Industrial | - | - | - | 0.87% | |
| Electronic & Electrical Equipment | - | - | 4.40% | - | |
| Electrical Components | - | - | - | 3.12% | |
| Electronic Equipment: Gauges & Meters | - | - | - | 1.28% | |
| Industrial Support Services | - | - | 3.15% | - | |
| Transaction Processing Services | - | - | - | 3.15% | |
| Industrial Transportation | - | - | 2.92% | - | |
| Transportation Services | - | - | - | 2.92% | |
| Construction & Materials | - | 5.03% | - | - | |
| Construction & Materials | - | - | 5.03% | - | |
| Building Materials: Other | - | - | - | 5.03% | |
| Financials | 13.43% | - | - | - | |
| Financial Services | - | 10.21% | - | - | |
| Investment Banking & Brokerage Services | - | - | 10.21% | - | |
| Diversified Financial Services | - | - | - | 7.53% | |
| Asset Managers & Custodians | - | - | - | 2.69% | |
| Banks | - | 3.21% | - | - | |
| Banks | - | - | 3.21% | - | |
| Banks | - | - | - | 3.21% | |
| Health Care | 9.28% | - | - | - | |
| Health Care | - | 9.28% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 5.80% | - | |
| Biotechnology | - | - | - | 5.80% | |
| Medical Equipment & Services | - | - | 3.48% | - | |
| Medical Supplies | - | - | - | 2.77% | |
| Medical Services | - | - | - | 0.71% | |
| Basic Materials | 3.41% | - | - | - | |
| Chemicals | - | 3.41% | - | - | |
| Chemicals | - | - | 3.41% | - | |
| Specialty Chemicals | - | - | - | 3.41% | |
| Cash and Equivalents | 0.86% | - | - | - | |
| Consumer Staples | 0.56% | - | - | - | |
| Food, Beverage & Tobacco | - | 0.56% | - | - | |
| Beverages | - | - | 0.56% | - | |
| Brewers | - | - | - | 0.56% | |
Regional Allocation
| Developed Europe - Excl UK | 91.20% | |
| North America | 6.44% | |
| UK | 1.51% | |
| Cash and Equivalents | 0.86% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.07% | |
| Cash | 0.82% | |
| Euro | 0.11% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Developed Europe - Excl UK | 91.20% | - | |
Netherlands
|
- | 18.34% | |
Sweden
|
- | 16.55% | |
France
|
- | 13.15% | |
Ireland
|
- | 9.00% | |
Germany
|
- | 6.66% | |
Switzerland
|
- | 6.38% | |
Luxembourg
|
- | 5.98% | |
Norway
|
- | 5.74% | |
Italy
|
- | 4.87% | |
Denmark
|
- | 4.52% | |
| North America | 6.44% | - | |
Canada
|
- | 5.16% | |
United States
|
- | 1.28% | |
| UK | 1.51% | - | |
United Kingdom
|
- | 1.51% | |
| Cash and Equivalents | 0.86% | - | |
Breakdown By Market Cap (%)
| Mega |
|
31.84% |
| Large |
|
23.77% |
| Medium |
|
26.76% |
| Small |
|
0.96% |
| Micro |
|
0.64% |
| Non-Classified |
|
15.18% |
| Cash |
|
0.86% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | RYANAIR HLDGS | 5.44% | Travel & Leisure | Ireland |
| 2 | TOPICUS.COM INC | 5.16% | Software & Computer Services | Canada |
| 3 | ASML HOLDING N.V. | 4.89% | Technology Hardware & Equipment | Netherlands |
| 4 | SCHIBSTED ASA | 4.87% | Software & Computer Services | Norway |
| 5 | PROSUS N.V. | 4.17% | Software & Computer Services | Netherlands |
| 6 | ATLAS COPCO AB | 3.87% | Industrial Engineering | Sweden |
| 7 | KINGSPAN GROUP | 3.56% | Construction & Materials | Ireland |
| 8 | IMCD NV | 3.41% | Chemicals | Netherlands |
| 9 | HYPOPORT SE | 3.26% | Investment Banking & Brokerage Services | Germany |
| 10 | AVANZA BANK HOLDING AB | 3.21% | Banks | Sweden |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 24.29% | - | - | - | - | - | - | 24.29% |
| Financials | - | 13.43% | - | - | - | - | - | - | 13.43% |
| Consumer Discretionary | 1.51% | 23.26% | - | - | - | - | - | - | 24.76% |
| Consumer Staples | - | 0.56% | - | - | - | - | - | - | 0.56% |
| Health Care | - | 9.28% | - | - | - | - | - | - | 9.28% |
| Industrials | - | 23.41% | - | - | - | - | - | - | 23.41% |
| Basic Materials | - | 3.41% | - | - | - | - | - | - | 3.41% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.86% | 0.86% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | 0605825 |
| Mex Code | BGEBA |
| Isin Code | GB0006058258 |
| Citi Code | BG90 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.59% |
Aims and Benchmark
| Aims | The fund aims to outperform (after deduction of costs) the MSCI Europe ex UK Index, as stated in Sterling, by at least 1.5% per annum over rolling five-year periods. Investment Policy The Sub-fund will invest at least 90% in shares of European companies being those which are listed, incorporated, domiciled or conducting a significant portion of their business in Europe (including Turkey and excluding the UK). The Sub-fund will be actively managed, concentrated and will invest in companies of any size, any European country and in any sector. To the extent that the Sub-fund is not fully invested in shares of European companies, the Sub-fund may also invest in other transferable securities of European companies, money market instruments, deposits and cash. The Sub-fund may not invest in or otherwise use derivatives. |
| Benchmark | MSCI Europe ex UK Index + 1.5% |
| Benchmark Category | - |
| IA Sector | Europe Excluding UK |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 10:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 30 April | 30 June |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| 5.10% | - |
Fund Administration
| Fund Trustee/Depository | NatWest Trustee and Depositary Services Limited |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Bank of New York Mellon Trust & Depositary Co. Ltd |
Group Details
| Group name | Baillie Gifford & Co |
| Group address | Calton Square 1 Greenside Row Edinburgh EH1 3AN |
| Group telephone | 0800 917 4752 |
| Dealing telephone | 0800 917 4750 |
| trustenquiries@bailliegifford.com | |
| Homepage | www.bailliegifford.com/intermediaries |
| Fax number | 0131 275 3955 |
Dealing
| Minimum Investment | £1000 |
| Minimum Top Up | £0 |
| Minimum Regular Saving | £50 |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | - |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -15.13 |
| Beta | 1.73 |
| Sharpe | -0.02 |
| Standard Deviation | 24.49 |
| Info Ratio | -0.94 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.